Concerns mount in India over Red Sea attacks

NEW DELHI – Apprehension is mounting in India over the economic fallout of the crisis in the Red Sea and the Gulf of Aden region, which could deal a US$30 billion (S$40.3 billion) blow to India’s external trade in the next six months.

Freight costs have shot up

as ships take a detour to avoid potential rebel attacks, which also put the lives of Indian crew members on vessels transiting the dangerous waters at risk.